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Australia six weeks from a housing collapse, US report warns

AUSTRALIA has roughly “six weeks” to prevent a housing market collapse caused by the banks’ crackdown on foreign investor lending, a US defence think tank has warned. In an article titled “Australia Risks Strategic Setback From a Significant Foreign Direct Investment Drop Due to Changes in Bank Policies”, the Washington-based International Strategic Studies Association warns […]

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London Bears the Brunt as Brexit Divides U.K. Housing Market

Brexit is having an uneven impact on the U.K. housing market, with pro-Remain areas such as London taking the brunt of falling confidence, according to estate-agency chain Haart. Using data on registrations, sales and listing across 20 local branches, it found that regions that supported Britain exiting the European Union have seen more buoyant property-market […]

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Dubai property market ‘remains solid’, says Damac chairman

Damac Properties chairman said the property market in Dubai “remains solid”, with healthy interest in its growing portfolio of luxury villas and apartments. Hussain Sajwani, chairman of Damac Properties, speaking after the developer announced a 37 percent drop in its quarterly net profit – $241.4 million for the three months to June 30 – said […]

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Buy It With Cash, Mortgage It Later

Anthony Corbisiero wanted a quick sale on his studio pied-à-terre in West Chelsea, as he planned to use a portion of the proceeds for his daughter’s looming college expenses. So he and his wife, Julie, who live in Bay Ridge, Brooklyn, were thrilled when three bids emerged within a week. Two were all cash. “The […]

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UK commercial property investment slumped around Brexit vote

Investment into UK commercial property slumped to its lowest level in two years and prices for British real estate began to fall during the period right around the country’sreferendum on EU membership. Investors bought £9.8bn of property during the second quarter of 2016, an 18 per cent drop from the previous quarter — when volumes […]